The recent COVID-19 pandemic has affected the way we shop and how we use the internet. This has reshaped American lifestyles, and e-commerce has made shopping easier than ever. Geographic distance is no longer a barrier to buying goods and services, and contactless payments are here to stay. But the fear of COVID-19 will not vanish overnight. For now, the advantages of online shopping outweigh the downsides.
Online shopping has been an increasingly popular way to shop in the wake of the COVID-19 pandemic, with many people opting to shop online during the hygienic conditions and the fear of contamination. Although one-third of households with incomes above $125,000 are increasing their online shopping, only twenty-five percent of households with lower incomes saw increases. This trend has been especially apparent among the younger population.
While many businesses are temporarily closing, many are opening again. However, these businesses have stricter restrictions, including wearing masks and social distancing. Many retailers have also limited the number of customers in their stores, so this is a great opportunity to entice more people to buy online. Retailers are also embracing online retail during the COVID-19 season by offering products consumers want and convenient locations.
While this trend is likely to continue, it is worth mentioning that some consumers may change their preferences over the long-term. In COVID-19, consumers prioritized lower-order needs, such as safety and food, as they believe online shopping is more expensive than physical shopping. However, this preference may also be the result of a shift in consumer control. A significant percentage of shoppers changed their preferences from online to in-person shopping, and this trend is likely to continue after the pandemic.